Brief: Fanhua Signs Definitive Agreement To Acquire Taiping Online Insurance Agency

AIFU

08/02/2023 09:23

Feb 8 (Reuters) - Fanhua Inc  FANH.O :
    * FANHUA SIGNS DEFINITIVE AGREEMENT TO ACQUIRE TAIPING
ONLINE
INSURANCE AGENCY
    * SAYS SIGNED AGREEMENT WITH EXISTING SHAREHOLDERS OF WUHAN
TAIPING TO ACQUIRE 51% OF EQUITY INTERESTS OF TAIPING
    * SAYS COMPANY WILL ACQUIRE 51% OF EQUITY INTERESTS OF
TAIPING
WITH STOCK CONSIDERATIONS OF UP TO 455,357 AMERICAN DEPOSITARY
SHARES
    * STOCK CONSIDERATION, IS SUBJECT TO LOCK-UP PERIOD OF THREE
YEARS
AND WILL BE RELEASED FROM LOCK-UP IN TWO BATCHES AFTER 2025

Source text for Eikon:  ID:nGNX8f577s 
Further company coverage:  FANH.O 
 ((Reuters.Briefs@thomsonreuters.com;))